FX.co ★ Iceland’s Monthly Inflation Momentum Cools as July CPI Growth Slows to 0.4%

Iceland’s consumer price inflation eased in July 2026, with the month-over-month Consumer Price Index (CPI) rising by 0.4%, down from a 0.9% increase in June 2026. The latest data, updated on 23 July 2026, indicate a notable cooling in short-term price pressures compared with the previous month.

On a month-over-month basis, the “actual” July reading reflects the change from June to July, while the “previous” figure captures the change from May to June. The deceleration from 0.9% to 0.4% suggests that, while prices are still increasing, the pace of monthly inflation in Iceland has moderated as the summer progresses. Investors and policymakers will be watching upcoming releases to gauge whether this slowdown in CPI gains signals a more sustained easing of inflationary momentum.